The fluctuation theorem is a fundamental result in statistical mechanics that quantifies the probabilities of observing fluctuations in thermodynamic systems, particularly small systems where fluctuations can be significant. It establishes a connection between the irreversibility of macroscopic processes and the reversible fluctuations occurring on a microscopic scale, demonstrating that entropy production can fluctuate in both directions. This theorem is crucial for understanding the behavior of small systems and has profound implications in nanomaterials and nonequilibrium thermodynamics.